On November 14, Monetary Authority of Singapore, whose mission is to promote sustained non-
As it was stated in the guide, tokens sold through the ICOs based on blockchain may be considered as securities under certain conditions based on the provisions of the country’s Securities and Futures Act and the Financial Advisers Act. Maintaining digital tokens may also be regulated by Monetary Authority of Singapore if the digital tokens are capital markets products under the SFA. As it is claimed, capital markets products include any securities, futures contracts and contracts or arrangements for purposes of leveraged foreign exchange trading.
Digital tokens that perform functions which may not be within MAS' regulatory purview may nonetheless be subject to other legislation for combating money laundering and terrorism financing.
A Guide To Digital Token Offerings
Previously, an official representing Monetary Authority of Singapore, which serves as the central bank and financial regulator of Singapore, used to claim that MAS had no plans of regulating cryptocurrencies.